The use of automated teller machines (ATM) has become prevalent in the last several years. A customer using an ATM will typically have a card or token with an identifying numerical sequence thereon that is inserted into the ATM, permitting the customer to deposit or withdraw funds from a bank account without interacting with a human teller. One substantial advantage of the ATM is the capability to transact bank business outside normal banking hours. A typical ATM will include a mechanism to dispense currency notes stored within the ATM in response to a customer's request. In order to maintain an accurate record of the customer's account, the ATM is also provided with a mechanism to detect and count currency notes dispensed.
In the past, currency notes, or other articles to be distributed individually have been stored on reels or spools between wrappings of a belt or tape in a cartridge. Typical cartridges are described and claimed in U.S. Pat. Nos. 2,687,135 issued to Heim on Aug. 24, 1954 and entitled "Storage Device" and 2,981,492 issued to Simjian on April 25, 1961 and entitled "Receptacle for Depository Apparatus".
It is known to employ self contained cartridges similar to those described above in a dispenser having a mechanism to detect and count the currency notes dispensed. Typical dispensing devices of this type are described and claimed in U.S. Pat. Nos. 3,038,157 issued to Simjian on June 5, 1962 and entitled "Deposit Exchange Machine Including Image Recording Means", 3,039,582 issued to Simjian on June 19, 1962 and entitled "Subscriber Controlled Apparatus" and 3,072,237 issued to Simjian on Jan. 8, 1963 and entitled "Currency Exchange Apparatus".
Such prior art cartridges must be loaded with a quantity of single currency notes. Each note is stored at a discrete location on the reel or spool so that they may be dispensed individually. A dispenser must then withdraw individual currency notes from the cartridge to dispense the currency notes as desired. The dispenser must further detect and count the currency notes being dispensed. A need exists for a system employing a cartridge for storing currency notes and a dispenser for dispensing the currency notes therefrom at a reasonable cost and with high reliability.
Since currency notes are typically packaged in a bundle or stack, some method must be employed to separate the stack into individual notes at a reasonable cost. Devices are known which may separate individual currency notes from a stack. However, these devices are too complex and expensive to be provided at each dispenser. A need has thus arisen for a system further employing a device to separate a stack into individual currency notes for storage within a cartridge until dispensed individually by a dispenser at a reasonable cost and with high reliability.